Meizu’s Founder Sells Shares, Making Geely Holding Company the Only Shareholder Going Forward

Meizu, a Chinese smartphone manufacturer, used to be a significant player in the industry, providing other and occasionally more alluring options than its rivals in the flagship and mid-range market. The Meizu MX4 and MX5 and the M Note series are examples of such smartphones. Meizu, however, struggled to make the same impact on the global market as Chinese rivals like Xiaomi as a result of complaints of inadequate after-sales service. Now, it appears as though the brand might try to make a comeback, as a report claims that Wuhan Xingji Meizu Technology Co., Ltd., a holding company of Geely, as mentioned in the Chinese article IT Home, has taken control as the sole shareholder and given the business new life. [caption id="" align="aligncenter" width="1200"] Image credit- ArenaEV[/caption] The corporation reportedly possessed a 79.09% controlling interest in Meizu when it signed the contract with Zhuhai Meizu Tech Co. Ltd. in July of this year. This implies that the brand may now take advantage of Geely's financial clout, as noted in an article by Arena EV, and the company's longstanding car industry expertise. Huang Xiuzhang, the former CEO of Meizu, was replaced and demoted to major shareholder. Furthermore, Huang Xiuzhang, the CEO of Meizu, was replaced as the company's chairman by Shen Ziyu on the same day he was downgraded to the role of a big shareholder. Meizu is therefore prepared to start over. Although the firm hasn't made it obvious what its plans are for the brand, it is assumed that Geely is committed to promoting Meizu and is likely funding the company's revival. Although the outcome is still uncertain, this proposal gives Meizu fans who thought their beloved brand simply needed a fresh life optimism. This may be the breath of fresh air Meizu has been waiting for, especially with Geely in charge. Watching what the new owner can accomplish with the brand is interesting. This crucial change occurs at a crucial time for Meizu, which has recently faced significant difficulties. The company will be able to concentrate on long-term growth and sustainability rather than short-term gains thanks to the new ownership. In order to keep the business competitive, the new owners have substantially engaged in strategic investments and the creation of new products.